Merrill Lynch Edge Select Conservative Portfolio vs DFA Dimensional Retirement Income Fund Portfolio Portfolio Comparison

Simulation Settings
Period: January 1985 - June 2025 (~41 years)
Consolidated Returns as of 30 June 2025
Initial Amount: 1$
Rebalancing: at every Jan 1st
Currency: USD
Inflation: US
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Results
30 Years
(1995/07 - 2025/06)
All Data
(1985/01 - 2025/06)
Inflation Adjusted:
Merrill Lynch Edge Select Conservative Portfolio
1.00$
Invested Capital
July 1995
4.62$
Final Capital
June 2025
5.24%
Yearly Return
4.28%
Std Deviation
-12.44%
Max Drawdown
27months
Recovery Period
1.00$
Invested Capital
July 1995
2.20$
Final Capital
June 2025
2.66%
Yearly Return
4.28%
Std Deviation
-19.91%
Max Drawdown
54months*
Recovery Period
* in progress
1.00$
Invested Capital
January 1985
13.67$
Final Capital
June 2025
6.67%
Yearly Return
4.53%
Std Deviation
-12.44%
Max Drawdown
27months
Recovery Period
1.00$
Invested Capital
January 1985
4.50$
Final Capital
June 2025
3.78%
Yearly Return
4.53%
Std Deviation
-19.91%
Max Drawdown
54months*
Recovery Period
* in progress
DFA Dimensional Retirement Income Fund Portfolio
1.00$
Invested Capital
July 1995
4.96$
Final Capital
June 2025
5.48%
Yearly Return
4.69%
Std Deviation
-12.91%
Max Drawdown
16months
Recovery Period
1.00$
Invested Capital
July 1995
2.36$
Final Capital
June 2025
2.90%
Yearly Return
4.69%
Std Deviation
-18.19%
Max Drawdown
46months*
Recovery Period
* in progress
1.00$
Invested Capital
January 1985
15.39$
Final Capital
June 2025
6.98%
Yearly Return
5.10%
Std Deviation
-12.91%
Max Drawdown
16months
Recovery Period
1.00$
Invested Capital
January 1985
5.06$
Final Capital
June 2025
4.09%
Yearly Return
5.10%
Std Deviation
-18.19%
Max Drawdown
46months*
Recovery Period
* in progress

As of June 2025, in the previous 30 Years, the Merrill Lynch Edge Select Conservative Portfolio obtained a 5.24% compound annual return, with a 4.28% standard deviation. It suffered a maximum drawdown of -12.44% that required 27 months to be recovered.

As of June 2025, in the previous 30 Years, the DFA Dimensional Retirement Income Fund Portfolio obtained a 5.48% compound annual return, with a 4.69% standard deviation. It suffered a maximum drawdown of -12.91% that required 16 months to be recovered.

Disclaimer: The simulations on this website are provided in good faith but should NOT be taken as investment advice. We are not liable for any errors or actions based on this information. The authors of the website are not affiliated with the portfolio creators, who are the sole owners of their intellectual property. The translation of asset allocations into ETFs is based on the interpretation of LazyPortfolioETF.com and may not exactly reflect the original intent of the portfolio creators. Content is for informational, educational, illustrative, and entertainment purposes only.
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Asset Allocations and ETFs

The compared portfolios have the following asset allocations.

Merrill Lynch Edge Select Conservative Portfolio
Weight
(%)		 Ticker Name
8.00
VTV
Vanguard Value
5.00
VUG
Vanguard Growth
5.00
VEU
Vanguard FTSE All-World ex-US
1.00
EEM
iShares MSCI Emerging Markets
1.00
IJS
iShares S&P Small-Cap 600 Value
1.00
IJT
iShares S&P Small-Cap 600 Growth
24.00
BIL
SPDR Blmbg Barclays 1-3 Mth T-Bill
17.00
IEI
iShares 3-7 Year Treasury Bond
12.00
MBB
iShares MBS
12.00
BNDX
Vanguard Total International Bond
10.00
LQD
iShares Investment Grade Corporate Bond
4.00
HYG
iShares iBoxx $ High Yield Corporate Bond
DFA Dimensional Retirement Income Fund Portfolio
Weight
(%)		 Ticker Name
6.40
DFEOX
DFA US Core Equity 1
6.40
DFUSX
DFA US Large Company I
3.80
DFALX
DFA Large Cap International I
1.90
DFCEX
DFA Emerging Markets Core Equity I
1.90
DFIEX
DFA International Core Equity I
47.60
DIPSX
DFA Inflation-Protected Securities I
32.00
DFIHX
DFA One-Year Fixed-Income I
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Portfolio Returns as of Jun 30, 2025

Returns are calculated in USD, assuming:
  • no fees or capital gain taxes.
  • rebalancing: at every Jan 1st.
  • dividend reinvestment, when applicable.
Return Comparison
Capital Growth
30 Years
(1995/07 - 2025/06)
All Data
(1985/01 - 2025/06)
Inflation Adjusted:
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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Merrill Lynch Edge Select Conservative
Merrill Lynch 		1 $ 4.62 $ 362.28% 5.24%
DFA Dimensional Retirement Income Fund
DFA 		1 $ 4.96 $ 395.54% 5.48%
Jul 1995 Jun 2025

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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Merrill Lynch Edge Select Conservative
Merrill Lynch 		1 $ 2.20 $ 119.70% 2.66%
DFA Dimensional Retirement Income Fund
DFA 		1 $ 2.36 $ 135.51% 2.90%
Jul 1995 Jun 2025

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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Merrill Lynch Edge Select Conservative
Merrill Lynch 		1 $ 13.67 $ 1 266.74% 6.67%
DFA Dimensional Retirement Income Fund
DFA 		1 $ 15.39 $ 1 438.69% 6.98%
Jan 1985 Jun 2025

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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Merrill Lynch Edge Select Conservative
Merrill Lynch 		1 $ 4.50 $ 349.67% 3.78%
DFA Dimensional Retirement Income Fund
DFA 		1 $ 5.06 $ 406.24% 4.09%
Jan 1985 Jun 2025

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Return (%) as of Jun 30, 2025
YTD
(6M) 		1M 6M 1Y 5Y 10Y 30Y MAX
(~41Y)
http://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_merrill_lynch.webp Edge Select Conservative
Merrill Lynch 		4.46 1.75 4.46 8.05 3.67 3.95 5.24 6.67
http://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_dfa.webp Dimensional Retirement Income Fund
DFA 		4.38 0.73 4.38 6.83 4.40 4.09 5.48 6.98
Returns over 1 year are annualized.
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Portfolio Metrics as of Jun 30, 2025

The following metrics, updated as of 30 June 2025, provide an overview of performance and risk, with the best value in each row highlighted within the table.

METRIC COMPARISON
Period: 1 July 2024 - 30 June 2025 (1 year)
Period: 1 July 2020 - 30 June 2025 (5 years)
Period: 1 July 2015 - 30 June 2025 (10 years)
Period: 1 July 1995 - 30 June 2025 (30 years)
Period: 1 January 1985 - 30 June 2025 (~41 years)
1 Year
5 Years
10 Years
30 Years
All (1985/01 - 2025/06)
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Edge Select Conservative Dimensional Retirement Income Fund
Author Merrill Lynch DFA
ASSET ALLOCATION
Stocks 21% 20.4%
Fixed Income 79% 79.6%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 8.05 6.83
Infl. Adjusted (%) 5.49 4.30
DRAWDOWN
Deepest Drawdown Depth (%) -1.50 -1.43
Start to Recovery (months) 3 5
Longest Drawdown Depth (%) -1.50 -1.43
Start to Recovery (months) 3 5
Longest Negative Period (months) 4 4
RISK INDICATORS
Standard Deviation (%) 4.12 3.32
Sharpe Ratio 0.83 0.66
Sortino Ratio 1.02 0.79
Ulcer Index 0.64 0.54
Ratio: Return / Standard Deviation 1.96 2.06
Ratio: Return / Deepest Drawdown 5.36 4.78
Metrics calculated over the period 1 July 2024 - 30 June 2025
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Edge Select Conservative Dimensional Retirement Income Fund
Author Merrill Lynch DFA
ASSET ALLOCATION
Stocks 21% 20.4%
Fixed Income 79% 79.6%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 3.67 4.40
Infl. Adjusted (%) -0.81 -0.12
DRAWDOWN
Deepest Drawdown Depth (%) -12.44 -12.16
Start to Recovery (months) 27 29
Longest Drawdown Depth (%) -12.44 -12.16
Start to Recovery (months) 27 29
Longest Negative Period (months) 39 34
RISK INDICATORS
Standard Deviation (%) 5.95 5.79
Sharpe Ratio 0.17 0.30
Sortino Ratio 0.23 0.39
Ulcer Index 4.54 4.23
Ratio: Return / Standard Deviation 0.62 0.76
Ratio: Return / Deepest Drawdown 0.30 0.36
Metrics calculated over the period 1 July 2020 - 30 June 2025
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Edge Select Conservative Dimensional Retirement Income Fund
Author Merrill Lynch DFA
ASSET ALLOCATION
Stocks 21% 20.4%
Fixed Income 79% 79.6%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 3.95 4.09
Infl. Adjusted (%) 0.88 1.02
DRAWDOWN
Deepest Drawdown Depth (%) -12.44 -12.16
Start to Recovery (months) 27 29
Longest Drawdown Depth (%) -12.44 -12.16
Start to Recovery (months) 27 29
Longest Negative Period (months) 39 34
RISK INDICATORS
Standard Deviation (%) 4.91 4.89
Sharpe Ratio 0.43 0.46
Sortino Ratio 0.58 0.61
Ulcer Index 3.30 3.12
Ratio: Return / Standard Deviation 0.80 0.84
Ratio: Return / Deepest Drawdown 0.32 0.34
Metrics calculated over the period 1 July 2015 - 30 June 2025
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Edge Select Conservative Dimensional Retirement Income Fund
Author Merrill Lynch DFA
ASSET ALLOCATION
Stocks 21% 20.4%
Fixed Income 79% 79.6%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 5.24 5.48
Infl. Adjusted (%) 2.66 2.90
DRAWDOWN
Deepest Drawdown Depth (%) -12.44 -12.91
Start to Recovery (months) 27 16
Longest Drawdown Depth (%) -12.44 -12.16
Start to Recovery (months) 27 29
Longest Negative Period (months) 39 34
RISK INDICATORS
Standard Deviation (%) 4.28 4.69
Sharpe Ratio 0.69 0.68
Sortino Ratio 0.92 0.89
Ulcer Index 2.35 2.48
Ratio: Return / Standard Deviation 1.22 1.17
Ratio: Return / Deepest Drawdown 0.42 0.42
Metrics calculated over the period 1 July 1995 - 30 June 2025
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Edge Select Conservative Dimensional Retirement Income Fund
Author Merrill Lynch DFA
ASSET ALLOCATION
Stocks 21% 20.4%
Fixed Income 79% 79.6%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 6.67 6.98
Infl. Adjusted (%) 3.78 4.09
DRAWDOWN
Deepest Drawdown Depth (%) -12.44 -12.91
Start to Recovery (months) 27 16
Longest Drawdown Depth (%) -12.44 -12.16
Start to Recovery (months) 27 29
Longest Negative Period (months) 39 34
RISK INDICATORS
Standard Deviation (%) 4.53 5.10
Sharpe Ratio 0.77 0.75
Sortino Ratio 1.06 1.02
Ulcer Index 2.13 2.33
Ratio: Return / Standard Deviation 1.47 1.37
Ratio: Return / Deepest Drawdown 0.54 0.54
Metrics calculated over the period 1 January 1985 - 30 June 2025
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Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

DRAWDOWN COMPARISON
Period: 1 July 1995 - 30 June 2025 (30 years)
Period: 1 January 1985 - 30 June 2025 (~41 years)
30 Years
(1995/07 - 2025/06)

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Edge Select Conservative Dimensional Retirement Income Fund
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-12.91 16 Jun 2008
Sep 2009
-12.44 27 Jan 2022
Mar 2024
-12.16 29 Jan 2022
May 2024
-10.97 16 May 2008
Aug 2009
-4.64 5 Feb 2020
Jun 2020
-4.57 5 Feb 2020
Jun 2020
-4.34 10 May 2013
Feb 2014
-3.41 14 May 2015
Jun 2016
-3.15 7 Sep 2018
Mar 2019
-3.06 6 Apr 2004
Sep 2004
-2.88 4 Aug 2011
Nov 2011
-2.88 7 Jun 2011
Dec 2011
-2.46 11 May 2015
Mar 2016
-2.43 3 Jul 1998
Sep 1998
-2.30 6 May 2013
Oct 2013

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Edge Select Conservative Dimensional Retirement Income Fund
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-12.91 16 Jun 2008
Sep 2009
-12.44 27 Jan 2022
Mar 2024
-12.16 29 Jan 2022
May 2024
-10.97 16 May 2008
Aug 2009
-6.09 15 Feb 1994
Apr 1995
-5.44 6 Sep 1987
Feb 1988
-4.85 5 Sep 1987
Jan 1988
-4.64 5 Feb 2020
Jun 2020
-4.57 5 Feb 2020
Jun 2020
-4.34 10 May 2013
Feb 2014
-4.06 5 Aug 1990
Dec 1990
-3.95 4 Aug 1990
Nov 1990
-3.75 13 Feb 1994
Feb 1995
-3.41 14 May 2015
Jun 2016
-3.37 5 Jan 1990
May 1990

Rolling Returns

By selecting the 'Rolling Period', the chart and data will update. To study a different date range, change the Simulation Settings.

You can explore the Rolling Returns for a single portfolio, or check the return differential, by switching on "Head To Head" toggle.

Rolling Returns Comparison
Annualized Rolling Returns Chart
Rolling Returns Chart - Inflation Adjusted
Time Period: 1 January 1985 - 30 June 2025 (~41 years)


Head To Head (Ptf 1 vs Ptf 2):
US Inflation Adjusted:

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Yearly Returns

For each year, the following table provides the return and intra-year drawdown. The highlighted returns represent the highest values for that specific year.

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Edge Select Conservative Dimensional Retirement Income Fund
Year Return
(%)		 Drawdown
(%)		 Return
(%)		 Drawdown
(%)
2025
 4.46 -0.75 4.38 -0.15
2024
 5.96 -1.86 6.04 -1.43
2023
 9.20 -3.89 7.92 -3.32
2022
 -9.59 -12.44 -9.39 -12.16
2021
 3.46 -1.41 7.04 -1.33
2020
 6.74 -4.57 8.69 -4.64
2019
 11.07 -0.76 10.30 -0.66
2018
 -1.01 -2.26 -1.96 -3.15
2017
 6.67 0.00 6.78 -0.31
2016
 4.67 -1.32 4.66 -1.35
2015
 -0.16 -2.46 -0.87 -3.41
2014
 4.82 -1.01 2.89 -1.95
2013
 5.12 -2.30 1.29 -4.34
2012
 6.74 -1.52 7.36 -1.03
2011
 3.69 -2.88 6.06 -2.88
2010
 7.47 -1.66 6.92 -1.91
2009
 10.64 -5.42 12.97 -4.37
2008
 -5.32 -9.24 -7.45 -12.44
2007
 5.55 -0.80 9.18 -0.27
2006
 7.57 -0.79 5.72 -0.65
2005
 4.31 -1.00 4.07 -1.13
2004
 6.35 -1.82 7.31 -3.06
2003
 10.38 -1.16 11.38 -1.65
2002
 2.13 -1.95 5.44 -0.88
2001
 2.93 -1.89 2.76 -1.59
2000
 5.85 -1.16 7.94 -1.66
1999
 5.52 -1.57 4.99 -1.82
1998
 10.67 -2.43 10.20 -2.01
1997
 9.16 -1.58 11.97 -2.13
1996
 7.09 -0.68 5.90 -1.57
1995
 17.99 0.00 18.82 0.00
1994
 -0.59 -3.75 -2.17 -6.09
1993
 11.76 -1.05 13.67 -1.44
1992
 6.62 -1.08 5.89 -2.39
1991
 18.00 -1.13 18.32 -1.25
1990
 3.99 -4.06 4.76 -3.95
1989
 14.88 -0.43 16.98 -0.62
1988
 10.13 -0.73 9.77 -1.84
1987
 4.09 -5.44 3.26 -4.85
1986
 15.59 -2.24 17.53 -2.86
1985
 22.07 -0.64 23.48 -1.24
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